‘Consumer cybercrime cost India $8bn in a year’

Mumbai: Software security services provider Norton on Wednesday said consumer cybercrime has cost the country around Rs 42,000 crore in the past 12 months, impacting 42 million people.

Releasing the findings of its annual cybercrime report, it is estimated that over 42 million people fell victim to cybercrime in the past 12 months in the country, incurring around $8 billion in direct financial losses. In terms of cost, this is a full 18% increase. Against this, the global loss has been pegged at $110 billion.

The study further notes that as many as 66 percent of online adults have been a victim of cybercrime in their lifetime in the country.

During the past 12 months, as many as 56% of adults who go online here have experienced cybercrime — that is over 1,15,000 victims per day, 80 victims per minute and over one every second.

The study is based on the findings of self-reported experiences of over 13,000 adults across 24 countries, Norton by Symantec said in a statement.